LaSalle Investment Management announced the purchase of Bexleyheath shopping center in London. The transaction represents the latest acquisition made on behalf of a pension fund client for whom LaSalle manages a pan-European mandate and takes total spending to nearly £400 million in just 10 months.
The other deals LaSalle has made on behalf of the same pension fund partner include Borehamwood shopping park in Hertfordshire, Eagles Meadow shopping centre, Wrexham and Le Blériot office building in Suresnes, Paris.
The 650,000 ft2 shopping centre has 67 units and includes tenants such as M&S, Bhs, Sainsbury's, Boots, Next, New Look and H&M.
Simon Marrison, Head of LaSalle Investment Management (Europe) said, "This deal is yet another example of our ability to successfully transact high value and off-market deals in difficult market conditions. It also vindicates our decision to wait before we started to invest money in good quality assets."
LaSalle Investment Management was advised by Jackson Criss.